Drill success at Hot Chili’s new high-grade copper play
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Hot Chili (ASX:HCH) has announced drilling results for its Valentina high-grade copper mine, along with its strategy to accelerate confirmation and definition of multiple high-grade copper resource opportunities close to its flagship Productora copper project in Chile.
Valentina is the second high-grade copper mine to deliver successful extensional results from HCH’s recent first-pass 5,000m drilling program across its new El Fuego copper project in Chile.
Recent results already confirmed a large extensional discovery at the San Antonio copper mine, located ~5km south of Valentina, which provide further confidence in HCH’s ability to build a stable of high-grade additions to its bulk copper asset, Productora.
HCH’s recently completed 5,000m RC drilling program primarily focused on assessing the potential of the San Antonio copper mine area. However, three shallow drill holes were also completed across the southern extent of the shallowly developed Valentina copper mine, located 5km north of San Antonio.
Three Reverse Circulation (RC) drill holes have been completed at Valentina, with two recording strong copper drilling intersections from shallow depths:
- VAP0001 – 12m grading 1.5% copper from 28m down-hole depth (including 6m grading 2.7% copper)
- VAP0003 – 8m grading 2.0% copper from 124m down-hole depth (including 2m grading 4.8% copper)
Additional credits up to 22g/t silver were also recorded.
Importantly, the drill holes were located immediately south of the Valentina underground development and have successfully confirmed significant strike and depth extensional potential to high-grade copper mineralisation.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The below maps outline the location of significant intersections in relation to the Valentina mine area and surrounding potential.
Detailed compilation and exploration work by HCH in the lead up to drilling at Valentina had indicated:
- Historical certified mine production data reported that the small-scale Valentina underground mine extracted sulphide ore parcels with grades ranging between 3.4% and 4.8% copper (weighted average grade of 4.0% copper) in 1997
- Widths of mineralisation within the Valentina mine area range between 1 and 5 metres locally with surface and underground mine development centred across 230 metres of strike length
- Seven historical drill holes across the mine area, which included an end-of-hole significant drill intersection of 11m grading 2.0% copper (including 7m grading 2.7% copper) from 120m down-hole, had not been followed-up
- Surface rock chip results and mapping have defined over 700 metres of strike potential along the main Valentina trend in addition to a secondary high grade copper trend
The latest drilling has confirmed that high grade sulphide copper mineralisation extends from near-surface and is associated with chalcopyrite and bornite.
Mineralisation reportedly intersected in historical drilling has been successfully located and is interpreted to be fault-hosted, dipping steeply towards the east within a sequence of volcanic-sedimentary units, similar to the deposit setting of San Antonio located 5km to the south.
Now the company is undertaking follow-up and Resource definition drill planning is being finalised ahead of submission of regulatory applications to drill.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
